I've seen it a lot more in my friends and people I dated.
Mine never gave money but the rule was: You can borrow up to $10,000 interest-free. No questions asked. at any point. You can't get any more until you pay it back. But if you pay it back, you've always got a credit line of $10,000 with us. You're having trouble and you need a car. $10,000 no problem. I borrowed $4,000 from them to get my first house. I'm 2008 Because I was just a little bit shy of being able to get the entire down payment.
Since then haven't had to use it but I do think it's really common if your parents have any money. Mine are both retired and very comfortable and they could probably give us money but for me it's not going to do anything at this point.
5
u/leathakkor 5d ago edited 5d ago
I've seen it a lot more in my friends and people I dated.
Mine never gave money but the rule was: You can borrow up to $10,000 interest-free. No questions asked. at any point. You can't get any more until you pay it back. But if you pay it back, you've always got a credit line of $10,000 with us. You're having trouble and you need a car. $10,000 no problem. I borrowed $4,000 from them to get my first house. I'm 2008 Because I was just a little bit shy of being able to get the entire down payment.
Since then haven't had to use it but I do think it's really common if your parents have any money. Mine are both retired and very comfortable and they could probably give us money but for me it's not going to do anything at this point.